FX.co ★ Patterns NZDCHF | New Zealand Dollar (NZD) to Swiss Franc (CHF) Rate in the Forex market

The Triple Bottom pattern has been formed on NZDCHF M5. It has the following characteristics: resistance level 0.4611/0.4610; support level 0.4606/0.4607; the width is 5 points. In the event of a breakdown of the resistance level of 0.4611, the price is likely to continue an upward movement at least to 0.4622.

The Double Bottom pattern has been formed on NZDCHF M5; the upper boundary is 0.4610; the lower boundary is 0.4607. The width of the pattern is 3 points. In case of a break of the upper boundary 0.4610, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M5, NZDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.4606/0.4609 and upper border is 0.4612/0.4609. The pattern width is measured on the chart at -6 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDCHF breaches the lower border, the price could continue its move toward 0.4594.

The Bearish pennant pattern has formed on the NZDCHF M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.4606; the projection of the flagpole height is equal to 17 pips. In case the price breaks out the pattern’s bottom of 0.4606, the downtrend is expected to continue for further level 0.4576.

According to the chart of M5, NZDCHF formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.4614, the lower border is 0.4607. The signal means that a long position should be opened above the upper border 0.4614 of the Bullish Rectangle.

On the chart of the NZDCHF M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.4607, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 5 points.

The Double Top reversal pattern has been formed on NZDCHF M5. Characteristics: the upper boundary 0.4612; the lower boundary 0.4607; the width of the pattern is 5 points. Sell trades are better to be opened below the lower boundary 0.4607 with a possible movements towards the 0.4592 level.

According to the chart of M30, NZDCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.4593 while the median line of the Neck is set at 0.4604/0.4603. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDCHF will go towards 0.4633.

According to the chart of M30, NZDCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.4592 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -13 pips.

According to the chart of M30, NZDCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.4604 - 0.0000 and support 0.4592 – 0.4592. In case the resistance level 0.4592 - 0.4592 is broken, the instrument is likely to follow the bearish trend.